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Introduction To Insurance: Financial Education Program On Insurance
Introduction To Insurance: Financial Education Program On Insurance
What is Insurance?
Premiums
Insurance
Company Claims
1. You lose your job Mortgage and Credit Will cover your debts
for a fixed period
while you are
unemployed
4. You are hurt on the job Disability; workers’ Disability: Will pay
compensation your lost wages and
medical expenses
Introduction to Insurance
WHAT TYPES OF RISKS DOES INSURANCE COVER? (Cont.)
Generally speaking:
> Risk = > Cost
Introduction to Insurance
Risk Factors: Auto Insurance
Age
Gender
Height & Weight
Medical record
Personal habits (smoker, drinker, drug use)
Occupation
**Amount of coverage required**
Introduction to Insurance
Categories of Risk
Age
Medical history
Gender
Introduction to Insurance
The Choices You’ve Made
(Traits You Can Control)
Fault of Another
(Incidents You Cannot Change)
Crash
Damage to Your Property
Loss of Property, Injury or Death
Theft of Your Property
Credit History of Spouse/Dependent
Introduction to Insurance
“Acts of God”
Flood
Hurricane
Earthquake
Windstorm
Lightening
Introduction to Insurance
Acts of War
Acts of Terrorism*